Building the right marketing strategy for your brand new business

May 15, 2018

Pick a brand about something you consume or use with frequency. Think for a moment how that particular product has managed to stay in your head for all the time you have been consuming it. The right and simplest answer are because it has developed a good marketing strategy, or at least one good enough to work on you as the demographic. If you are setting up a new business you absolutely need a strategy that makes your brand leave the same type of impression on potential customers that you have from your favorite products across the years.

The first thing you should know is that there is no magic bullet or instant strategy that will bring you leads to your door. The cold, hard truth is that most brands develop their own marketing strategies by trial and error depending on certain key factors related to the features of the service or product being marketed such as the targeted demographic, the geographic location of the potential clients, and their preferred choice of media. There are a number of strategies that are almost a given in this digital era and some of them should be considered if you are building the marketing plan for your new offering. Let’s take a look at some of them:

Field Studies

A field study it’s an old-fashioned tool that speaks about the expectations of the customer base about your product. The information it can give you can be quite revealing, but not 100% conclusive. The complete information out of them comes after a field test. Companies with established capital can have the luxury of allowing both tests before launching a new product, but a new brand will need to go with a gut feeling and a lot of luck.

Social Media Presence

According to Forbes, almost 67% of the people buying something use social media as a mean of customer support, even if it’s only to offer feedback. If your brand doesn’t have a social media presence, it stands to reason that probably your competitor does. It’s up to you to figure out what it’s the best platform for your brand, product or service.

Engaging Content

According to SmartInsights, at least 18% of the brand focusing on online marketing experienced a steady growth in exposure during most of 2017 and 2017. The reason why most of these campaigns worked was that they focused on engaging content about their services or products that offered quite a bit of information that their customer base couldn’t find anywhere else.

Promote Consultations and Free Samples

As business strategies go, they may not be exactly new. But it’s an undeniable fact that everyone loves something for free. If you are promoting a service, offer a free consultation. Make it personalized to give your customer a sense of worth. If you are offering a product make room on the budget for giveaway samples. The intention of this strategy is to showcase how good you are over your competitors, so make this “sample” as good as your paid work.

Offer a Discount or a Coupon

Reward your potential customers for engaging with your brand. The same way it works to offer something for free, make your new clients feel welcomed by making them save money on your services or products. A lot of websites can help you set up these promotional codes for interacting with your brand at every stage: you can reward creating an account, signing for a mailing list or even doing the first purchase.

Build Partnerships with Other local Services

We are not suggesting that you work alongside your competitors here, but it will work wonders for you to offer your services or product alongside something akin to your main offering. If you have set up a hardware store, you could work along the local garden shop to get a discount on both businesses with a proof of purchase.

Don’t Discard Traditional Advertising

If your niche of choice targets a traditional audience, you can still do very well with printed ads or a local TV commercial. After all the Nielsen Ratings still list pamphlets and newspaper circulars as some of the most well-received mediums of information for local services and discounts on store chains. It all comes down to the type of business you have and the target demographic of your main offering.